Party supplies retailer Party City is permanently shutting down, CNN reported Friday. Its retail footprint in North America spans over 700 company-owned and franchised stores.
Party City, the largest party supply store in the United States, is going out of business and closing down all of its stores, CNN reported.
Party City on Friday announced it will close all of its stores and has initiated corporate layoffs effective immediately, according to a CNN report. CNN reported the company's closure was due to ongoing financial challenges at the party supply retailer, which less than two years ago filed for bankruptcy over its inability to pay off $1.7 billion in debt.
City Office: Cash Flow Growth, Proven Strategy, And Extremely Undervalued
City Office REIT trades at a remarkably cheap 3.2x annualized fiscal 2024 third-quarter free cash flow, with a 31% free cash flow yield on market cap. Despite a high debt load, CIO's free cash flow comfortably covers its dividends, with a 6.8% yield for common shares and 8.3% for preferreds. CIO's portfolio is 83.4% occupied, set to rise to 87%, with strong leasing momentum and manageable lease expirations supporting future occupancy gains.
Party City has faced growing competition from powerhouse retailers such as Walmart and Target, and increasingly occasion-based pop-up stores such as Spirit Halloween for years.
Party City Holdco Inc is planning a second bankruptcy filing nearly two years after it filed for one in the U.S. as it runs out of cash to run operations, Bloomberg News reported on Tuesday.
TRNO's buyout of industrial property in Long Island City Queens, NY, and recent developments come as part of its portfolio expansion efforts.
Man wearing a mask shoots Brian Thompson, 50, outside a Hilton Hotel in midtown Manhattan
Thompson headed up the health benefits unit of UnitedHealth Group
TUCSON, AZ / ACCESSWIRE / December 4, 2024 / Applied Energetics, Inc. (OTCQB:AERG), a leader in the field of advanced optical technologies and ultrashort pulse laser (USPL) technologies, today announced that Chris Donaghey, Chief Executive Officer, will be presenting at The Benchmark Company's 13th Annual Discovery One-on-One Investor Conference to be held Wednesday, December 11th, 2024 at the New York Athletic Club in New York City. The conference offers emerging growth and dynamic publicly traded companies' access to institutional and individual investors in a unique one-on-one format during which Mr.
Investor sentiment toward European real estate has improved due to ECB rate cuts and regained access to capital markets, boosting share prices. Grand City Properties S.A. has outperformed peers, driven by reduced overhang risk and resilient performance, but still trades discounted due to no dividend payments. Grand City's liquidity and operating performance have improved, suggesting potential dividend reinstatement in 2024, which could catalyze further share price re-rating.